Bankstown City Credit Union - News

Press Release - Home Loan Rates Drop

Thu, 4 Dec 2008 00:00:00 GMT

Date Posted: 4 December 2008

Effective December 4th 2008

Bankstown City Credit Union Drops Home Loan Rate

Following the Reserve Bank's recent decision to reduce official rates, Bankstown City Credit Union has decided to drop its variable home loan rate by 90 basis points or 0.90%. The drop keeps the Credit Union at the competitive edge with great variable mortgage rates at 6.49% well below that of the major four banks.

The new rates will be effective December 4th for new mortgages and existing mortgages will be effective from 24th December 2008.

BCCU Chief Executive, Clinton Blanks explains "The current climate is very challenging. However, the Credit Union feels that our product range and rate structure offers a great deal to all members, whether they be borrowers or depositors. Our home loan rates are well below those of the major banks and other institutions, while we offer market leading call and term deposits, all the time while continuing to offer great personal service and low fees."

Interest rate details are available on the www.bccu.com.au website.

Bankstown City Credit Union has been serving the community of South Western Sydney since 1965.

For more information:

Paul Steer
Marketing Manager
Bankstown City Credit Union
Ph: 02 9707 6000
Email: psteer@bccu.com.au

Press Release - Home Loan Rates Drop

Thu, 13 Nov 2008 00:00:00 GMT

Date Posted: 13 November 2008

Effective Wednesday 12th November 2008

Bankstown City Credit Union Drops Home Loan Rate

Following the Reserve Bank's recent decision to reduce official rates, Bankstown City Credit Union has decided to drop its variable home loan rate by 60 basis points or 0.6%. The drop keeps the Credit Union at the competitive edge of loan offerings in the market place, and well below that of the major four banks.

The new rates will be effective Friday 14th November 2008 for new borrows and Tuesday 25th November 2008 for existing.

BCCU Chief Executive, Clinton Blanks explains "The current climate is very challenging. However, the Credit Union feels that our product range and rate structure offers a great deal to all members, whether they be borrowers or depositors. Our home loan rates are well below those of the major banks and other institutions, while we offer market leading call and term deposits all the time, while continuing to offer great personal service and low fees."

Mr Blanks mentions "If you have some cash around or are looking to move your deposit, the next two weeks are a great time to invest with the Credit Union. Rates are likely to continue to fall over the next few months, and now is a great time to lock in an attractive rate."

Interest rate details are available on the www.bccu.com.au website.

Bankstown City Credit Union has been serving the community of South Western Sydney since 1965.

For more information:

Paul Steer
Marketing Manager
Bankstown City Credit Union
Ph: 02 9707 6000
Email: psteer@bccu.com.au

Press Release - Interest Rates Drop

Wed, 5 Nov 2008 00:00:00 GMT

Date Posted: 5 November 2008

Effective Wednesday 5th November 2008

Reserve Bank of Australia drops cash rate by 0.75%

In response to the current economic pressures the Governor and the Board of the Reserve Bank have decided to reduce the cash rate by 0.75% to 5.25%. This rate has not been seen since December 2003.

As a result of the official rate drop, Bankstown City Credit Union management is now meeting to discuss the most appropriate action taking into account the interests of all members - both depositors and borrowers. It is intended that an announcement will be made next week.

As a member based organisation Bankstown City Credit Union continually strives to provide the best possible deposit and loan rates and service for its members.

Bankstown City Credit Union has been proudly serving the South Western districts of Sydney for the past 43 years.

For more information:

Paul Steer
Marketing Manager
Ph:02 9707 6000
Email: psteer@bccu.com.au

BCCU Welcomes Government Deposit Guarantee

Thu, 16 Oct 2008 00:00:00 GMT

Date Posted: 16 October 2008

Effective Thursday 16th October 2008

BCCU Welcomes Government Deposit Guarantee

Bankstown City Credit Union has welcomed new laws to implement the Australian Government's 100% guarantee for all deposits in credit unions, building societies and banks.

BCCU Chief Executive, Clinton Blanks said "the Government's guarantee, while very unlikely ever to be called on, will reassure Australians concerned by international financial instability."

"Our members already know that the Credit Union is a safe and member-focused banking institution," said Mr Blanks.

"This extra step by the Prime Minister builds on the already strong safeguards in place for Australian banking institutions. It means that every deposit with a credit union, bank or building society now has the full backing of the Australian Government - no matter the amount."

The Prime Minister announced on 12 October that the Government will guarantee all deposits in Australian credit unions, building societies and banks for the next three years.

"Credit unions/mutual building societies are safe and secure," expresses Mr Blanks.

"We have no exposure to the toxic loans seen in the USA, and have very high levels of capital. Because we're member-owned, we don't chase risky business to drive high profits for shareholders. Our focus is on great services for members."

Bankstown City Credit Union has been serving the communities of south west Sydney for the past 44 years and prides itself of safe, secure and responsible lending practices.

Credit unions and mutual building societies are trusted with more of Australia's household deposits than any bank other than the Commonwealth Bank. With more than 4.5 million members around the country, credit unions and mutual building societies offer a different kind of banking: one that puts members' first.

For more information:

Paul Steer
Marketing Manager
Bankstown City Credit Union
Ph: 02 9707 6000
Email: psteer@bccu.com.au

Press Release - Interest Rates Drop

Tue, 14 Oct 2008 00:00:00 GMT

Date Posted: 14 October 2008

Effective Tuesday 14th October 2008

RATE REDUCTION PROVIDES COMFORT TO MEMBERS

Following the Reserve Bank of Australia's announcement to lower the cash rate, Bankstown City Credit Union (BCCU) has provided comfort to its members by dropping its mortgage rates.

From October 24 current BCCU mortgage holders benefit from a significant interest rate reduction, the healthiest rate drop for sometime. The new competitive rate for secured mortgages is 7.99% - around 0.6% lower than the banks.

"With all the news in the media about financial markets it is nice to know that we can still provide good news to our members" explains Bankstown City Credit Union CEO, Clinton Blanks.

BCCU is not exposed to the effects of the global credit crisis; funds are only lent to members with good credit histories and all its assets are in Australia.

Bankstown City Credit Union has been serving the community of South Western Sydney since 1966.

For more information:

Paul Steer
Marketing Manager
Bankstown City Credit Union
Ph: 02 9707 6000
Email: psteer@bccu.com.au

Bankstown City Credit Union Firms Market Position

Tue, 14 Oct 2008 00:00:00 GMT

Date Posted: 14 October 2008

Effective Tuesday 14th October 2008

BANKSTOWN CITY CREDIT UNION FIRMS MARKET POSITION

With the current situation and uncertainty in the banking market place, Bankstown City Credit Union (BCCU) has continued to provide secure and confident banking to its members by ensuring that the Credit Union is a unique position and is safe from the global concerns of the credit crisis. For the past 43 years Bankstown City Credit Union has continued proven to be a secure place for its members to bank, borrow and save.

Bankstown City Credit Union CEO, Clinton Blanks assured members that BCCU has no exposure to the US sub-prime market and does not entertain offshore investments or securitization as a method of raising funds.

"As community based organization it is of no interest to us to seek out high risk investments to provide returns to our members, we have been strong in the Bankstown and South Western Sydney regions for over 43 years and have always kept our business local." explains Mr Blanks.

Since the Rudd Governments recent announcement to guarantee funds up to $100 000, the Credit Union is an even more secure place to bank, borrow and save.

"Fortunately for us, the Rudd Government guarantee is not a necessity for BCCU, but it will provide an extra level of comfort to our members for the future", says Mr Blanks.

Bankstown City Credit Union has been serving the community of South Western Sydney since 1966.

For more information:

Paul Steer
Marketing Manager
Bankstown City Credit Union
Ph: 02 9707 6000
Email: psteer@bccu.com.au

Press Release - Interest Rates Drop

Mon, 8 Sep 2008 00:00:00 GMT

Date Posted: 8 September 2008

Effective Monday 8 September 2008

Bankstown City Credit Union helps members breath easy.

Inline with the Reserve Bank of Australia dropping the interest rate by 0.25%, the first decrease in rates for over seven years, Bankstown City Credit Union has joined the move with the big banks and decreased home loan interest rates in line with the RBA decrease.

"Whilst our home loan rates continue to be significantly less than those of the big banks, we are always looking out for our members and ensuring that we provide the best possible service at all times. One of those areas of service is ensuring that our members can comfortably manage their loans" explains CEO Clinton Blanks. "If they can afford to do so, members should think about maintaining their payments - you will save thousand in interest, and months on your loan term,. Bankstown City Credit Union, along with its new market brand MoneyMAX, can provide many flexible lending and saving options."

Along with the decrease in rates on loans, Bankstown City Credit Union is offering a range of great term deposit rates with its MoneyMAX T series products. Clinton suggests, "Now is the time to lock in cash in term deposits and secure a great rate as the market will see a shift in rates over the coming year. Our T6, T12 and T24 programs are designed with all investors in mind".

MoneyMAX has mobile relationship managers that can assist with a host of banking and financial needs, and are available to visit at a location suitable to you anytime.

For more information:

Paul Steer
Marketing Manager
Bankstown City Credit Union
Ph: 02 9707 6000
Email: psteer@bccu.com.au

TD's new rates shine at lifestyle and retirement expo

Mon, 28 Jul 2008 00:00:00 GMT

Date Posted: 28 July 2008

BCCU and MoneyMAX proudly exhibited at the recent Lifestyle and Retirement Expo, held on Friday 25 to Sunday 27 at Rosehill Racecourse. With over 15000 people in attendance the response to the new MoneyMAX special Term Deposits was very well received and three lucky winners were chosen from the expo competition to win, a weekend for two in the Hunter Valley, Financial planning session with Lyle from Bridges Financial and the final prize was to be guests of the Wests Tigers at the upcoming game against the Bulldogs at ANZ Stadium. Congratulations to those winners and thank you or attending the stand at the show.

BCCU performs strongly in annual awards to take out gold

Fri, 25 Jul 2008 00:00:00 GMT

Date Posted: 25 July 2008

The annual Australian Financial Review Smart Investor Awards were held last evening in the Grand Ballroom of the Westin hotel in Sydney. This grand occasion saw many organisations from the banking and finance industry attend this gala evening, and Bankstown City Credit Union was represented by CEO, Clinton Blanks and Marketing Manager, Paul Steer. BCCU was nominated for three awards; Variable Rate Loan, Line of Credit and Cash Management Account. The competition was tough being nominated up against some big industry names, but it was good to see that BCCU can still come up with Gold, winning the best Line of Credit product for 2008.

BCCU CEO Clinton Blanks explains, "It was a great evening and to be recognized for three of our products and to take gold for the LOC, this tops off a great year for us, indeed". The award will be displayed in the branch from July 30.

Tigers Meet MoneyMAX

Sun, 20 Jul 2008 00:00:00 GMT

Date Posted: 20 July 2008

Bankstown City Credit Unions', MoneyMAX have signed a sponsorship partnership with NSW Rugby League team, Wests Tigers for the remainder of the 2008 season. This new arrangement takes the BCCU and MoneyMAX brands into an arena it has not been before, with the opportunity of providing the Wests Tigers and its strong broad member base a solid range of banking and financial products. MoneyMAX will be active in working with players and members alike to provide specific product such as lending, term deposits and financial planning.

BCCU Marketing Manager, Paul Steer says "this deal is the start of a great relationship that assists us in cost effectively targeting the areas around the Bankstown LGA, from Balmain and Drummoyne in the north down to Campbelltown in the south. It also provides us with great mix of professional sportsmen, corporate organisations and a very strong broad public base to promote our range of banking and financial products."

MoneyMAX will be the core brand being promoted via this partnership. Look out for more news on the Wests Tigers in coming newsletters

New year, New site

Tue, 1 Jul 2008 00:00:00 GMT

Date Posted: 1 July 2008

The internet is an integral part of our lives and there is literally nothing we can't find, buy, research or view online. We rely on the internet for our day to day living whether we switch a computer on or not. After three months of research and six months of development Bankstown City Credit Union's IT Team headed by Enis Huseyin have produced one of the most impressive and simplified user friendly banking websites around.

Now you will be able to surf the new site with ease and explore and learn more about the credit union and its products and services. Many new features have been added and these include; more improved calculators, product brochures and disclosure information, online applications and all the contact information you need to ensure your banking requests can be answered.

Over the next month, a new revised and improved online banking system will be introduced. We will be communicating how to use the new system in the coming weeks to all BCCU members.

BCCU spreads its wings

Mon, 16 Jun 2008 00:00:00 GMT

Date Posted: 16 June 2008

Over the past 43 years Bankstown City Credit Union has been providing high quality banking products and services to the local Bankstown area. In today's competitive environment, Bankstown City Credit Union is now offering these competitive services and products to the greater area of Sydney, from the Central coast in the north to Wollongong in the south and from the coast, west to the Blue Mountains. This is a very exciting initiative from the Credit Union, and the members will be able to benefit from the strong growth that is anticipated over the next few years.

To develop this new strategy and manage the expansion a new masthead brand, "MoneyMAX" has been created to assist with market penetration. In addition to the new brand, three highly experienced and credentialed Business Development Managers have been engaged to take the business on the road. Operating across the Greater Sydney basin, they will focus on key regions at a time to develop the areas and tap into the market potential of these areas.

Under the guidance of Bankstown City Credit Union Executive Manager of Sales - Greg Fuller, the BDM's will be targeting markets with both lending products and term deposits, whilst communicating all the great features of Bankstown City Credit Union. A proactive marketing campaign will commence in July and you will see the new MoneyMAX brand in the market place in the coming months.